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Don't we all have a love / hate relations with party favors? Loot bags are fun for kids to give and receive, but they can be a nightmare for parents planning parties. Am I right? Well, we can all agree that no one likes a bag full of junk, so today I am sharing 40 of my favourite unique and inexpensive party favor ideas. You are going to love them all!

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1) Pool noodle light sabers - These pool noodle light sabers are a lot of fun for a Star Wars party, and they are easy and inexpensive to make. (Older kids could even make their own.) Find the step by step tutorial here.

2) Baking party favors - Containers filled with treats the children bake at the party, packages of cookie mix with cute cookie cutters, or cupcake parfaits make adorable "baking" themed party favors.

14) Movie party favors - Sending home popcorn with a cute "Thanks for popping by!" tag couldn't be easier... and it's super-cute too.

15) Super hero party favors - Handmade, no-sew super hero Capes & Masks are sure to make an impression on pint-sized super heros. They are easy and inexpensive to make too!

16) Playdough - You can share homemade playdough using my favorite no cook recipe here. Or, you can buy play-doh and package it with "Thanks for coming to my party. It was DOH-lightful!" tags.

17) Coloring Books and crayons - Coloring books with packages of crayons make wonderful party favours for younger children. You could even make your own crayons in shapes that go along with the party theme. (You can find the tutorial for recycled crayons here.)

18) Personalized Clip Boards - Handmade clipboards are easy to craft, and they make wonderful party favors. You can even use scrapbook paper to match the theme of the party. Find the full tutorial here.

19) Bubbles - You can give big bottles of bubbles as party favors, or you can give "make your own bubbles" kits that include everything they need to make their own bubbles.

21) Finger puppets - Handmade felt finger puppets are adorable and easy to make using the tutorial you can find here.

22) Frames - Guests can decorate frames, and pictures of guests can be taken at the party and delivered at a later date. (You could write something like.... "The content of this frame is currently hollow, but a really cute picture is certain to follow. Thanks for coming to my party.")

23) Balls - Bags can be filled with bouncy balls, and tags can be attached that say "Thanks for coming. I hope you had a BALL at my party."

24) Personalized labels - Who doesn't love a practical gift... like personalized name labels? ("Loot bag" packages can be ordered from places like Olivers labelsfor $4.99 per person.)

25) Cookie cutters - Cookie cutters that fit with the theme of the party make great loot bags when you package them with your favorite cookie recipe or cookie mix in a jar.

26) Homemade Hair Clips - Handmade gifts are always a little bit more special than stuff you buy. Hair clips are easy and inexpensive to make and make adorable and unique party favors. (I have a great tutorial for monkey and frog clips that you can find here.)

28) "Make your own sidewalk paint" kit - For a eco-friendly party favor, wrap up all the supplies needed to make sidewalk paint, and include paintbrushes and full instructions. (You can find the "how to" here.)

29) Mugs and hot chocolate - Fill mugs with packages of hot chocolate and marshmallows, and include notes that say, "It warms my heart to have a friend like you. Thanks for coming to my party!"

33) Prize punch party favors - With DIY prize punches (made from dollar store supplies) claiming your party favor is the best part. You can customize the prize punch (and its contents) for any age group or party theme.Find out how to make one here.

A fun and unique party favor is a great way to end a party and show your guests how much you appreciate them attending. Do you have a favorite idea for an easy and inexpensive loot bag? Please share your best party favor / goodie bag / loot bag ideas below.